Discount and interest calendar



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DISCOUNT AND INTEREST CALENDAR.

No. 447,856. Patented Mar. 10, 1891.

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WILLIAM RfwrLrnor BALTIMORE, MARYLAND.

D lscou NTAND INTEREST CALENDAR.

SPECIFICATION forming part of Letters Patent No. 447,856, dated March 10, 1891. Application filed August 16,1890. Serial No. 362,157. (No model.)

To all whom, it may concern: f

Be it known that I, WILLIAM R. WILL, a citizen of the'United States, and a resident of Baltimore city, in the State of Maryland, have invented certain new and useful llnf provements in Discount and Interest Calendars, of which the following is a specification. My invention relates to an improved calendar, which'eXhibits at a glance the exact number of days between any two dates the interval between which is one year or less, and whichV also shows the date at which any number of days less than three hundred and sixty-five will fall if counted forward or backward from any certain date selected. I arrange my calendar as a tear-offcalendar consisting of three hundred and sixty-five leaflets in form of a pad for a common year and three hundred and sixty-six for a leap year* that is to say, a separate leaiiet differing more or less in the matter imprinted thereon, as hereinafter described, for each successive day of the year. For convenience for discounting commercial paper each leaflet of the calendar contains but five months. Nearly all commercial paper is drawn payable in four months or less from the date of issue, and the number of days'intervening between the date of discount and the date of maturity of such paper can always be found on a calendar, including the four months which immediately succeed the date of discount.

In the drawings, Figure l represents the leaiiet for July 19, and is arranged to indicate the day of maturity of commercial paper discounted on July 19, counting from the day succeeding July 19, exclusive of day of discount. Fig. 2 is a similar leaflet for July 19, in which the numbers are arranged so as to indicate the day of maturity of commercial paper discounted on that date, including and the date of the leaflet. Counting1 forward from the date of the. leaflet and over each calendar date in small print is the date obtained by counting backward from the date of the leaflet the same number of days as such calendar date is forward from the date of dtheleaflet. v

In using the lealiet shown in Fig. 1,0n July 19, for instance, if a note is offered on that date for discount which would legally ma ture on October 8, the number of days intervening between the date of discount'and the date of maturity may be easily determined by simply findingA the date of maturity, October 8, upon the calendar, and the figures 81 below the figure 8 of the month of October will indicate that there are just eighty-one'days for which interest must be calculated. If, again, a ninety-day note dated May 30 were offered for discount on July 19,

the number of days for which interest must be calculated` which intervened between July 19 and the day of maturity may be found by finding on the leaflet for July 19 the date of the note, (which is above the calendar date September 7.) Below that calendar date will be seen the gure 50, indicating that fifty days intervene between May 30, the date of the note, and July 19, the date of the leaflet, which deducted from the whole number of days for which the note is to run leaves forty days of the nominal time of the note still to run, to which must be added three days for grace, which makes forty-three days for which interest is to be calculated. Now if it is desired to learn the date of maturity, find on the leaflet the number 10 below the calendar number. rlhis will fall below the calendar date August 28, which will be the nominal date of maturity.

Many bankers and merchants in computing discount on notes include the day of disroo using this leaflet, if a ninety-day note dated find, as before eXplained,the date of the note printed in small type over the calendar date September 2G, and the small figures 50 beneath that calendar date must be subtracted from ninety plus one to find the number of days of the nominal time (forty-one) during which the note is still to run.

Referring now to Fig. 3, figure 3, as before stated, represents a leaflet for one day in the year; but on that leaflet is printed a whole years calendar, as on everyot-her leaflet; but the arrangement is peculiar. The days of each month are arranged in two lines, the first day of each month being located always in the second space of the first line and the succeeding days of the month following the first successively-fifteen days or numbers in the first line and the balance of the days in- 1 dicated in the second line. This arrangement has the special advantage of always bringing the same days of thev succeeding months ijn the same relative posit-ion, which is a lgreat convenience for ready reference. The calculations on this leaflet are made for cach Aday in the year, backward and forward from July l; or January 1 might be used,

if it were desired. Over the figure indieating the 1st day of July is written thev number indicating the number of days intervening between July 19 and July 1, counting p backward-that is to say, eighteen days. Be-

low the figure 1 of July 1 are the figures 347., indicating the number of days, counting forward, from July 19 to July 1 of the succeeding year. to find the number of days forward from July 19 to December 3, the small figures beneath December 3 (187) will be the desired number. December `3 will be the number of days backward from the date of the leaet to December-(2283) or, reversely, to find what date will fall one hundred and eighteen days after July 19, search for 118 beneath the calendar date in small figures, and the date above this figure, November 14, will be the vdate desir-ed; or to find what date will fall one hundred and eighteen days prior to July 19, search for 11S in small figures over the calendar date, and the date March 23 will be the date sought.

The leaet shown in Fig. 3 may be either used as there shown, being one of three huny dred and sixty-five, or twelve of these may be selected, those indicating the first day of each month, and used for the same purpose as the three hundred and sixty-five by adding or subtracting, as may be necessary, to get results for any day in the month. instance,if it is desired to find the number of' day-s forward from March 14 to July 9 look upon the leaflet for July 1 for the calendar date March 14, and over this calendar date will `be found in small type 109,.

In using this leaflet, if it is desired The number above the-date Thus, for

showing that there are one hundred and nine days between March 14 and July 1, and therefore to July 9 there will Vbe eight days additional, or one hundred and seventeen days.

Having thus described my invention, what I claim, and desire to secure by Letters Patent, is-

1. In a calendar, the arrangement of the days of the month in two lines, the first line consisting of fifteen figures from 1 to 15, successively, and the second line consisting of the balance of the numbers of the days of thc month, with the number 17 immediately belowv the figure 1, indicating the first day of the month, and the remaining numbers beneath the numbers succeeding 1, as and for the purpose specified.

2. In a calendar for calculating interest and discount, the combination of three hundred and sixty-five leaflets, on each of which lis printed a separate date of the year and also a calendar for the whole of the month in which that day is and calendars for the four succeeding months, the date succeeding the date of the leaflet in the calendar for the month to which the leaflet belongs being numbered 1 in small type and the succeeding date numbers being numbered continuously to the end of the five months upon the leaflet, and the date preceding the date of the leaflet being printed in conjunction with the number indicating the date succeeding the date of the leaflet, and .each succeeding date having in conjunction with ita date indicating the number of days backward which it is forward from the date of the leaflet, as and for the purpose specified.

3. Yln a calendar for calculating interest and discount, the combination Aof three hundred and sixty-live leaflets, on each of which is printed a separate date of the year and also a calendar for the Whole of' the month in which that day is and calendars for the four succeeding months, the date of the leaflet in the calendar for the month to which the leaflet belongs being numbered 1 and the succeeding date numbers being numbered consecutively to the end of' the five months upon the leaflef,'and having the date preceding the date of the leaflet printed in conj unctionV with the number indicating the date of the leaet in the calendar of the month of the leaflet, and each succeeding date having in conjunction with it a date indicating the number of days backward which'it is forward from the date preceding the date of the leaflet, as and for the purpose specified.

4. In a calendar, the combination of three hundred and sixty-five leaflets, upon each of which is printed a date, one for each day of IOO IIO

year, the rst month of each yearly calenlar I being the month of the leaflet and each date on each calendar being printed in conjunction with two numbers, one indicating the number of days intervening` between that date and the date 0f the leaflet counting backward and the other indicating the number of days r 5 intervening between that date and the date of the lcaet counting forward.

Signed at Baltimore city,State of Maryland, this 14th day of August, A. D. 1890.

WILLIAM R. WILL.

Witnesses:

HERMAN KERNGooD, FELIX R. SULLIVAN. 

